Global Engineering Software Market Analysis and Forecasts to 2025 - Research and Markets

Engineering software are used in design or manufacturing automation
across a number of different engineering disciplines such as electrical
engineering, electronics and communication engineering, process
engineering, mechanical engineering, and chemical engineering among
others. Despite steady growth in the past few years, the global
engineering software market is expected grow considerably during the
forecast period, expanding its use in various application areas and
untapped opportunities.

A significant reduction in time and cost can be achieved in the product
development cycle with the introduction of engineering software such as
CAD, CAM, CAE, and EDA among others. Also, engineering software provide
easy accessibility to the users, thus reducing extra efforts and
increasing efficiency and work quality, thereby driving its adoption.
The engineering software market is further flourishing due to the rising
adoption of portable computing devices at workplace coupled with easy
availability of these software over cloud. Rising need of automation in
process industries (such as oil & gas, manufacturing and offshoring
industries among others) is expected to create new opportunities for the
global engineering software market during the forecasted period.

The lack of skilled personnel to develop and operate applications on
engineering software hinders the global engineering software market.
This eventually limits the number of users, thereby reducing the sales
volume of engineering software. In addition, high liense fees of the
engineering software products makes it inaccessible for small & medium
enterprises (SMEs), thus impacting the global engineering software
market to an extent. High maintenance cost of the engineering software
products leads to piracy which further restricts the global engineering
software market.

North America with high adoption of engineering software, especially
cloud-based, leads the global engineering software market and is
expected to continue its dominance over the forecast period. A similar
trend is expected within Europe region, owing to a high adoption of
cloud-based solutions and services. The key players in the global
engineering software market are looking forward to tap market potential
across the oil & gas industry in the Middle East region, by providing
system automation.